Connecticut and New York Fuel Demand Rises, So Does the Price at the Pump
In case you haven't noticed, it's starting to cost you more to fill up your tank throughout Greater Danbury and in Dutchess and Putnam Counties -- but why?
With gas prices in Connecticut going up $0.22 over the past month, local drivers have questions. Is it the new administration in Washington? Is it the oil cartels? Perhaps the move to greener energy? Not really any of those things, but AAA did have some answers.
According to FOX 6, AAA is claiming the spike in prices is based on two factors:
- 1- The rise in crude oil prices
- 2- New optimism that the demand will increase as COVID-19 concerns decrease
Amy Parmenter is a spokeperson for AAA, and she says the prices are being driven up, believe it or not, by the vaccine rollout:
"The market is keeping a close eye on that demand number, at this moment they’re optimistic because of the vaccine rollout and it remains to be seen what will happen moving forward," said Parmenter. "When the pandemic first began last March, gas prices decreased due to low demand and now it’s the opposite. Connecticut drivers for many months were enjoying relatively low gas prices and now that trend has reversed."
So, while some drivers are still staying at home and driving less, others have had their offices and businesses reopen, and that means more time on the road, and more trips to the pump.
The current cost per gallon of regular gas in Connecticut is $2.49, which is slightly lower than the national average of $2.50. New York's current cost per gallon is $2.59 - that's almost $0.10 higher than the national average.
Compare those prices to where we were last year at this time, before the pandemic hit, prices were actually $0.13 cents higher than where they are right now.
You would have to go back to 2009 to see a January "jump at the pump," when the national gas price average rose twenty three cents during the first three weeks of the year. Again, according to AAA, the increase reason was very similar to this year with supply and demand being lower and the increase in crude oil prices.
So will the prices continue to rise as we move ahead in the year? According to AAA, the answer is yes, but at a slower rate than the past few weeks.